rennie review - January 2020

the rennie review

DATA-DRIVEN INSIGHT INTO SALES, LISTINGS, & PRICING TRENDS FOR 13 SUB-MARKETS IN THE VANCOUVER REGION

published January 2020

table of contents

02 INTRO

Each month, we release the rennie review, a detailed look at the real estate marketplace in Vancouver and the Lower Mainland. This report examines the market stats by neighbourhood, current rennie projects, and more.

03 WHAT YOU NEED TO KNOW

04 FEATURED LISTINGS

NEIGHBOURHOOD PROFILES

Greater Vancouver Board Area

08 Burnaby North 11 Burnaby South 14 Coquitlam 17 Fraser Valley Board Area 20 Langley 23 North Vancouver

Andrew Ramlo VP Intelligence aramlo@rennie.com

Ryan Berlin Senior Economist rberlin@rennie.com

26 Richmond 29 Squamish 32 Surrey

35 Vancouver East 38 Vancouver West 41 West Vancouver

43 CURRENT PROJECTS

Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 6, 2020. All data from RealEstateBoardof Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 2

a strong finish to 2019 sets the stage for positive start to 2020 Trends in the Vancouver region’s resale market, complemented by solid underlying demographic and economic fundamentals, are pointing to increased sales activity in 2020

market has, overall, returned to its natural equilibrium based on what we saw in 2019. Furthermore, there does remain a significant stock of pent-up demand throughout the region, at least insofar as measured by per capita sales. Despite December’s sales-per- 1,000-residents ratio, at 1.38, sitting 1% above the long-run average for the month, each of the previous 11 months in 2019 registered a deficit, including in March when the per capita sales ratio was 45% below the long-run average for the month. Despite the significant shift in demand conditions over the course of 2019, prices were, interestingly, largely unchanged: the benchmark price of a home declined by 3%, while the average price increased by 2%, over the past 12 months. Based on the momentum built through the latter half of 2019, signs that at least some pent-up demand is poised to be released (as would-be buyers re-enter the market after months on the sidelines), and continued strong labour market conditions combine with near-record population growth, 2020’s resale market has been gifted a headstart over that of 2019. Of course it’s not how you start, but how you finish, that matters--so watch this space as we closely follow what promises to be a fascinating journey for Vancouver’s housing market in 2020.

If it’s true that it’s not how you start but how you finish that really matters, then history will look favourably upon the Vancouver region’s resale market performance in 2019. The year did get off to an inauspicious start, characterized by six consecutive months of year-over-year sales declines, which extended that particular streak to 17 months overall. The cumulative effect of this trend yielded sales 23% lower than during the same period in 2018. Having said this, there were signs that market conditions were improving as the year progressed, with year-over-year sales declines (the so-called “negative sales gap”) shrinking as summer approached. Then, beginning in July and continuing through December, a new trend prevailed, with each month during this period registering sales that were in excess

of the same month one year earlier. Once the ball had dropped on the new year, there were 37% more sales in 2019’s final six months than there were during the same period in 2018. In the end, the number of sales in the Vancouver region in 2019 as a whole was 1.5% higher than in 2018. While not of a great magnitude, this result is perhaps some vindication for a market that continued to demonstrate strong demographic and economic fundamentals despite a protracted period of slow sales activity. Having said all of this, it’s important to acknowledge that 2019’s sales count was 30% below what was achieved in 2017, and 19% below the previous-decade average, so it would be a stretch to conclude that the

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Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 6, 2020. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.

DETACHED - DECEMBER 2019 greater vancouver board area

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

25 % DOWN

0.5 % UP

72 % UP

BALANCED 17 %

Detached listings in the REBGV decreased to 3,585 in December, 31% below November and 25% lower vs December 2018. Detached sales, at 604, decreased 27% compared to November but were 72% higher vs December 2018. The sales-to-listings ratio slightly increased to 17%, as the REBGV detached market remained in bal- anced market territory. The detached benchmark price in December was $1.42M, 0.6% higher month-over-month but a 4% decline year-over-year. The average sold price was $1.67M, up 6% from the previous month and 0.5% higher year-over-year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

3,585

5,202

-31% -27%

4,811

-25% 72% 130%

TOTAL SALES

604 17%

833 16%

352

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$1,423,500 $1,415,400 0.6% $1,482,200

-4%

$1,671,805 $1,583,878

6% $1,662,724 0.5%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.48

$1.44

$1.43

$1.42

$1.41

1.86

1.83

6,829

6,523

6,330

5,767

5,595

1.19

1.18

4,811

3,585

945

760

711

604

584

452

352

Dec-18

Nov-19

Dec-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0

S-L RATIO SALES INVENTORY

greater vancouver board area

TOWNHOME - DECEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 2 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

4 % DOWN

18 % DOWN

0.3 % DOWN

75 % UP

SELLER’S 28 %

The number of townhome listings in the REBGV fell to 1,062 in December, 31% below November and 18% lower year-over-year. Townhome sales in December, at 293, were down 26% vs November but were 75% above last year. The sales-to-listings ratio increased to 28% as the REBGV townhome market remained favourable to sellers. The townhome benchmark price in December was $778,400, 0.7% above November but 2% lower than in December 2018. The average sold price was $846,637, with an aver- age PSF sales price of $577 (2% lower and relatively unchanged, respectively, vs November).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

1,062

1,544

-31% -26%

1,294

-18% 75% 114%

TOTAL SALES

293 28%

397 26%

167 13%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$778,400 $772,800 $846,637 $829,139

0.7% $797,400 2% $849,102 -0.2% $601

-2%

-0.3%

$577

$578

-4%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$797,400 $780,600 $775,000 $774,700 $771,900 $771,600 $778,400

2,156

1,994

1,785

1,539

1,294

1,062

465

345

341

316

293

239

167

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

208

162

3 bdrms

584

<3 bdrms

. . . . 0 0 0 0

270

S-L RATIO SALES INVENTORY

greater vancouver board area

CONDO - DECEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 3 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

1.6 % DOWN

1.0 % DOWN

22 % DOWN

96 % UP

SELLER’S 35 %

The number of condo listings in the REBGV decreased to 3,010 in December, 31% below November and 22% below December 2018. At 1,054, condo sales were 14% lower month-over- month but 96% higher year-over-year. The sales-to-listings ratio increased to 35%, as the REBGV condo market remained in seller’s market territory. The condo benchmark price in December was $656,700, 0.8% above November but down 3% com- pared to December 2018. The average sold price was $667,874 (0.5% below November) with an average PSF sales price of $773 (0.8% lower vs November).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

3,010 1,054

4,393 1,219

-31% -14% 26%

3,862

-22% 96% 152% -1.6% -1.0% -3%

TOTAL SALES

537 14%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

35%

28%

$656,700 $651,500 $667,874 $671,218

0.8% $675,200 -0.5% $678,796 -0.8% $781

$773

$779

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$675,200 $671,500 $667,500 $654,700 $654,000 $652,500 $656,700

6,222

6,010

5,630

5,057

4,648

3,862

3,010

1,388

1,119

1,054

945

884

759

537

REBGV

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

411

579

2 bdrms

1,755

409

<2 bdrms

. . . . 0 0 0 0

844

S-L RATIO SALES INVENTORY

DETACHED - DECEMBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

49 % DOWN

8 % UP

64 % UP

26 %

The number of detached listings in Burnaby North in December, at 88, were 42% lower month-over- month and 49% lower year-over-year. With 23 in December, detached sales were down by 4 month-over-month but 9 above last year. The sales-to-listings ratio jumped to 26%, as Burnaby North’s detached market became favour- able to sellers. The benchmark price in December was $1.39M, 0.6% above November 2019 but 4% lower than in December 2018. The average sold price was $1.62M, up 8% from the previous month and 8% above December 2018.

VS 2018

SELLER’S

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 152

% Change

No. 171

% Change

TOTAL LISTINGS

88 23

-42% -15% 47%

-49% 64% 219%

TOTAL SALES

14 8%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

26%

18%

$1,389,000 $1,380,700 0.6% $1,448,900

-4%

$1,623,435 $1,497,610

8% $1,502,750

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.45

$1.40

$1.39

$1.38

$1.37

2.00

1.92

1.90

239

225

212

187

1.22

1.21

1.17

171

166

Dec-18

Nov-19

Dec-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

TOWNHOME - DECEMBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % DOWN

3 % DOWN

0.0 %

28 % DOWN

325 % UP

SELLER’S 44 %

The number of townhome listings in Burnaby North decreased 39% from last month, settling at 39, and were 28% below December 2018. Townhome sales, at 17, were up by 3 vs last month and 13 above December 2018. The sales-to-listings ratio jumped to 44% in December, as Burnaby North’s townhome segment remained a seller’s market. The benchmark price in December was $724,200, 0.6% below November and relatively unchanged from December 2018. The average sold price was $711,706 in December, (increasing 6% vs November) while the average PSF sales price was $523 (decreasing 6%).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

39 17

64 14

-39% 21% 99%

-28% 325% 488% 0.0%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

44%

22%

$724,200 $728,500 $711,706 $674,464

-0.6% $724,400 6% $767,250

-7% -3%

$523

$557

-6%

$540

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$724,400 $715,300 $709,200 $725,500 $721,500 $723,900 $724,200

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

CONDO - DECEMBER 2019 burnaby north

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 3 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

5 % UP

14 % UP

36 % DOWN

103 % UP

SELLER’S 47 %

There were 133 condo listings in Burnaby North in December, 38% below November and 36% lower vs December 2018. December condo sales decreased by 27% month- over-month but rose 103% year-over-year. The sales-to-listings ratio for condos in Burnaby North increased to 47%, remaining a seller’s market. The condo benchmark price in December was $598,500, relatively unchanged from November and 3% lower than in December 2018. The average sold price was $610,631, up 1.4% from last month; the average PSF sales price was $728, up 3% from last month.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 215

% Change

No. 208

% Change

TOTAL LISTINGS

133

-38% -27% 18%

-36% 103% 218%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

47%

40%

15%

$598,500 $595,900 $610,631 $601,985

0.4% $619,100 1.4% $579,629

-3%

$728

$704

$641

14%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$619,100 $599,900 $611,800 $607,800 $601,700 $590,300 $598,500

331

316

310

280

229

208

133

BURNABY NORTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

<2 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

DETACHED - DECEMBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 5 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

34 % DOWN

15 % DOWN

163 % UP

BALANCED 18 %

There were 116 detached listings in the Burnaby South market area in December, 33% below last month and 34% lower vs December 2018. Detached sales fell by 19, to 21, between November and December, and were 13 higher year-over-year. The sales-to-listings ratio decreased to 18%, as Burnaby South’s detached segment transitioned to balanced market territory. The benchmark price in December was $1.49M, 0.6% above the previous month but a 5% decline vs last year. The average sold price for detached homes was $1.76M, 10% higher month-over-month but 15% below December of last year.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 174

% Change

No. 177

% Change

TOTAL LISTINGS

116

-33% -48% -21%

-34% 163% 301%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

18%

23%

$1,494,500 $1,486,200 0.6% $1,569,800

-5%

$1,757,965 $1,603,045

10% $2,075,000 -15%

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.57

$1.54

$1.53

$1.50

$1.49

$1.47

1.99

1.96

1.93

242

225

222

206

192

1.19

1.17

1.15

177

116

Dec-18

Nov-19

Dec-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

SELLER'S MARKET

BALANCED

BUYER'S MARKET

. . . 0 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

TOWNHOME - DECEMBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

16 % DOWN

27 % DOWN

1.1 % DOWN

367 % UP

SELLER’S 32 %

Townhome listings in the Burnaby South market area in December (at 44) were down 34% from last month and 27% below last year. The 14 townhome sales were unchanged from November but 11 above December 2018. The sales-to-listings ratio jumped to 32%, as Burnaby South’s townhome segment remained a seller’s market. The benchmark price in December was $762,600, 0.9% below November and 4% lower year-over-year. The average sold price was $844,554 (up 8% from November) with an average PSF sales price of $575 (up 9% vs November).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

44 14

67 14

-34% 0.0% 52%

-27% 367% 536% -1.1% -16% -4%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

32%

21%

$762,600 $769,600 $844,554 $779,836

-0.9% $790,800 8% $853,667

$575

$529

$688

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$790,800 $807,300 $768,100 $762,600 $767,000 $776,600 $762,600

113

104

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

CONDO - DECEMBER 2019 burnaby south

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 5 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

32 % DOWN

2 % DOWN

1.2 % UP

132 % UP

SELLER’S 41 %

The number of condo listings in Burnaby South, at 215, decreased 35% month-over-month and fell 32% vs last year. December’s condo sales, at 88, were 20% below last month but 132% higher than last year. The sales-to-listings ratio increased to 41% in December, as Burnaby South’s condo segment remained in seller’s market territory. The condo benchmark price in December was $652,000, 0.7% above November but a 5% decrease from December 2018. The average sold price was $637,846 with an aver- age PSF sales price of $745 (up 1.4% and down 0.7% vs November, respectively).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 330 110 33%

% Change

No. 315

% Change

TOTAL LISTINGS

215

-35% -20% 23%

-32% 132% 239%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

41%

12%

$652,000 $647,300 $637,846 $628,843

0.7% $685,700 1.4% $650,696 -0.7% $736

-5% -2%

$745

$750

1.2%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$685,700 $689,400 $679,200 $666,200 $648,500 $645,300 $652,000

457

433

437

389

367

315

215

BURNABY SOUTH REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

139

<2 bdrms

. . . . 0 0 0 0 QD QD QD

S-L RATIO SALES INVENTORY

coquitlam

DETACHED - DECEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 4 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

12 % UP

32 % DOWN

82 % UP

BALANCED 19 %

The number of detached listings in Coquitlam fell to 262 in December, 35% below November and 32% lower year-over-year. The 51 detached sales in December represented a decrease of 43% from November but an 82% jump vs December of last year. Coquitlam’s sales-to-listings ratio decreased to 19% as the detached segment transitioned to balanced market territory. The benchmark price in December was $1.16M, 0.8% above November but a 4% decrease year-over-year. The average sold price was $1.53M in December, up 24% vs November and 12% above December 2018.

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 400

% Change

No. 386

% Change

TOTAL LISTINGS

262

-35% -43% -13%

-32% 82% 168%

TOTAL SALES

28 7%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

19%

22%

$1,164,300 $1,154,800 0.8% $1,214,300

-4% 12%

$1,532,355 $1,236,003

24% $1,364,096

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.21

$1.18

$1.17

$1.16

$1.15

1.82

1.79

1.76

586

532

470

447

1.29

1.26

1.24

386

262

Dec-18

Nov-19

Dec-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

. . . 0 0 0 0 0 QD QD S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET

coquitlam

TOWNHOME - DECEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE 3 % UP

BENCHMARK PRICE

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

SELLER’S 54 %

14 % UP

0.7 % DOWN

31 % DOWN

100 % UP

There were 59 townhome listings in Coquitlam in December 2019, 39% below November and 31% lower vs December 2018. The 32 townhome sales in December were down by 1 vs November 2019 but 16 above December 2018. The sales-to-listings ratio rose to 54% as Coquitlam’s townhome market remained in seller’s market territory. The townhome benchmark price in December was $663,000, 3% above November but 0.7% lower vs December 2018. The average sold price was $802,662, with an aver- age PSF sales price of $483 (7% and 0.6% higher, respectively, vs November).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

59 32

96 33

-39% -3% 58%

86 16

-31% 100% 192% -0.7%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

54%

34%

19%

$663,000 $644,200 $802,662 $747,182

3% $667,900 7% $702,319

14%

$483

$480

0.6%

$468

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$667,900 $656,200 $662,500 $657,300 $651,800 $648,600 $663,000

164

144

143

106

COQUITLAM REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

4+ bdrms

BUYER'S MARKET

3 bdrms

<3 bdrms

. . . . 0 0 0 0 QD QD QD QD

S-L RATIO SALES INVENTORY

coquitlam

CONDO - DECEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE 3 % UP

BENCHMARK PRICE 1.8 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

SELLER’S 66 %

12 % UP

42 % DOWN

142 % UP

The 157 condo listings in Coquitlam in December were down 43% from November and 42% lower vs December 2018. Year-over-year condo sales rose by 142% in December (to 104) and were 35% above November. The sales-to-listings ratio increased to 66%, as Coquitlam’s condo market remained in seller’s market territory. The condo benchmark price in December was $528,100, 1.9% above November and a 1.8% increase vs December 2018. The average sold price was $562,437 in December (up 4% vs November) while the average PSF sales price was $659 (relatively unchanged vs November).

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 275

% Change

No. 271

% Change

TOTAL LISTINGS

157 104 66%

-43% 35% 137%

-42% 142% 317% 1.8%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

28%

16%

$528,100 $518,200 $562,437 $539,184

1.9% $519,000 4% $504,382 -0.3% $641

12%

$659

$661

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

›

SALES TOTAL INVENTORY BENCHMARK PRICE

$519,000 $523,300 $511,500 $514,600 $524,300 $517,000 $528,100

413

399

384

330

279

271

157

103

104

COQUITLAM REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

›

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY

SELLER'S MARKET

BALANCED

3+ bdrms

BUYER'S MARKET

2 bdrms

<2 bdrms

. . . . 0 0 0 0 QD QD

S-L RATIO SALES INVENTORY

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